The Bozeman weekly chronicle. (Bozeman, Mont.) 1883-1889, 1887-05-18
Ordinance No. 90.

An ordinance to provide funds for the
erection of a city building in the city
of Bozeman, Mont.
Be it ordained by the city council OF
the city of Bozeman:
Sec. 1. That for the purpose Of pro-
curing money for the erection OF a city
building, to be used as q city hail. hre
engine house, city offices and city prison,
within the city of Bozeman, Mont, q
loan shall be made bv the issuance OF
coupon bonds of the said city OF bose-
man to the amount of ten thousand dol
lars; said bonds shall be OF the usual
form, one-half to be of the denomina-
ton of one hundred dollars each, and
one.half to be of the denomination of
five hundred dollars each, and shai
bear the signatures of the city treasurer
and city clerk, and be sealed with the
corporate seal of the city and shall be
redeemable at the option Of the city
after FIVE years and become due and
payable ten years from date at the ofhce
of the said city treasurer, and bear inter-
est at the rate of seven per cent, per
annum, said interest payable semi-annu-
ally; said interest to be paid and said
bonds to be redeemed BY the levy Of q
special tax for that purpose, in excess
of and in addition to the three mill tax
authorized by the oath section Of Article
five of the city charter, and the faith
of the city Of Bozeman Is hereby solemn
" pledged for the payment Of the inter
est on said bonds and the principal there
of, when they shall respectively become
due. For the purpose of the payment OF
the interest on said bonds and the
principal thereof, when 1t shall become
due or PAYABLE, there shall be annually
levied at the time the other annual
taxes are levied, a tax Of not exceeding
one mill on each dollar valuation OF
taxable property within the city Except
for the year 1887, when said tax shall
be levied at the first regular Council
meeting of June, 1877 which tax, when
collected, shall be kept In a seperate
fund. to be denominated the Sinking
fund.-" which shall be reserved and
applied to the payment Of the accrued
interest and the redemption Of said
bonds.
Sec. 2, The foregoing section shall be
submitted to the qualified voters Of the
! city on the 4th Monday in May, 1887,
after due notice of said submission as re-
CURED by Sec. 8 of Art. 7 of the city
charter, and as provided by Ordinance
No. 8, entitled Concerning City Elec-
TONS"
Sec. 8. If the first section Of this Or
dinance shall be approved at said cleo
ton, by the qualified voters, 80 as to be
in force, the city treasurer. when re-
quired by the city council shall issue
said bonds in manner and form as in
said section provided, and the coupons
attached thereto shall be signed by the
said city treasurer and city clerk. and
| shall designate the amount, date, num-
Der of the bond, and the installment o.
the interest on the bond that they are
intended to pay.
SEC. 4. The city treasurer shall give
notice by advertising in the newspapers
of the city for four successive weeks
| that he will, on the first day Of August,
1887, dispose of said bonds to the highest
bidder at not less than their face value
and he Is hereby authorized to sell said
bonds after approval Of a bid or bids
therefor by the city council at their pal
value or upwards, and shall keep a regis
ter of the same.
SEC. 5. The city treasurer shall pay on
the first day of January, 1888, and semi
annually thereafter upon presentation al
his Office of the proper coupons, which
shall show the amount due and the mum
Der of the bond to which it belongs, thi
interest due thereon, and shall repor'
and present to the city council in hi
next ensuing financial report.
SEC. 8. Whenever at any time aftel
said bonds become redeemable, the SUN
in said sinking fund shall exceed the sun
of one hundred dollars over and above &C
crued interest on the bonds outstanding
the treasurer shall cause a notice TO b.
published by four insertions in a news
paper published in the city that he wi
within thirty days thereafter redeer
said amount of bonds; specifying tn
unmber thereof, giving preference In tn
numerical order Of the bonds and
after the expiration Of said thirty day
, the holder or holders shall fail or negle'
to present the same for payment, the ii
t terest thereon shall cease, and when
, redeemed, said bonds shall be endorse
"paid" by said treasurer, who shall l
port and present the same to the ci
: council, who shall cause the anne TO
q collected.
Sec. Z. That for the selling Of 90
bonds and disbursing money to pay Il
\ interest or principal thereof the q
) treasurer shall receive as compensate
a one.half of one per cent, and 1t shall
= considered in full compensation for
a moneys handled in the above bond
4 indebtedness.
,s Sec. 8. This ordinance shall take
feet and be in full force only after I
first section thereof shall have been
= proved by the vote Of the qualified v
= ers as provided by Sec. 8, Of Art. 7, Of
~ city charter.
Approved this 9th day of May, 1887
j.. v. BoaRRr, Mayor
DC CAMPBELL, City Clerk.
,ocA, cosINEss NoTu